12,506 Shares in Baker Hughes Company $BKR Acquired by Expressive Wealth LLC

Expressive Wealth LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,506 shares of the company’s stock, valued at approximately $570,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinion Investment Advisors LLC acquired a new position in Baker Hughes in the fourth quarter worth approximately $778,000. Nordea Investment Management AB grew its position in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc grew its position in Baker Hughes by 5.4% in the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after buying an additional 367,728 shares during the last quarter. Cibc World Market Inc. grew its position in Baker Hughes by 13.6% in the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after buying an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Baker Hughes by 10,225.3% in the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after buying an additional 841,338 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.0%

NASDAQ BKR opened at $66.73 on Wednesday. Baker Hughes Company has a twelve month low of $36.36 and a twelve month high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock has a market cap of $66.20 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.35 and a beta of 0.97. The firm’s 50 day moving average price is $63.25 and its two-hundred day moving average price is $56.51.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 550,250 shares of company stock valued at $32,988,331 in the last three months. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BKR shares. Piper Sandler lifted their price target on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Susquehanna lifted their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Barclays restated an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.41.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.